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Polygon

Blockchain events - upcoming events in the blockchain world.

In Other News - a few interesting developments we're tracking.

Polygon - Decentralized Ethereum Scaling Platform

Polygon is a sidechain scaling solution that runs alongside the Ethereum blockchain-allowing for speedy transactions and low fees. The Ethereum blockchain is home to a vast range of economic activity-from NFT markets and games to the growing DeFi ecosystem. Ethereum is well suited to this activity because it’s compatible with smart contracts, which can be used to build a vast range of applications.

However, the growing popularity of these applications adds many transactions to the Ethereum blockchain- and as a result, transaction fees can sometimes rise to the point where making small or frequent investments can be economically unviable.

Polygon, which is a layer 2 sidechain, provides faster transactions and users are charged nominally. To use Polygon, users can bridge some of their crypto over to Polygon, and then interact with a wide range of popular crypto apps that were once exclusive to the main Ethereum Blockchain.

Polygon has its own cryptocurrency called the Matic. It is used to pay fees on the polygon network, for staking and for governance.

Sandeep Nailwal is the co-founder of Polygon. Polygon has raised a total of $450.5M in funding. Under Nailwal’s guidance, Polygon's cryptocurrency Matic raised almost 29,000% in the year 2021.